Shares of Jubilant Pharmova slumped 4% on 22 July after the company’s Canada plant as having a “voluntary action indicated” (VAI) status by the US Food and Drug Administration (US FDA). 

In its regulatory filing, the company said, ” wholly owned subsidiary of Jubilant Pharma, announced that its subsidiary Jubilant Draximage Inc. received a communication from the USFDA through which the regulatory agency intimated that pursuant to its audit of JDI’s Radiopharmaceutical manufacturing facility at Montreal, Canada in the month of April, 2024, it has determined the inspection classification the facility as “Voluntary Action Indicated”.

In April, the company’s generics arm Jubilant Generics, which is a solid dosage manufacturing facility at Roorkee, India received a VAI status from the USFDA. 

In its quarterly earnings for April-June quarter, the company reported a multi-fold increase in net profit to Rs 481.8 crore during the quarter under review from Rs 6 crore reported in the same quarter of the previous fiscal year. 

The shares touched a 52-week high on 19 July 2024 at Rs 799.95 and a 52-week low of Rs 319.30 on 26 October 2023. 

At 12:02 pm, the shares of Jubilant Pharmova were trading 3.92% lower at Rs 720.15 on NSE.

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